Daily News: February 14, 2014

Reuters: Wells Fargo Edges Back Into U.S. Subprime Mortgage Market

Reuters reported Wells Fargo & Co is edging back into subprime home loans, after the subprime mortgage bust brought the banking system to the brink of collapse in the financial crisis.

According to Reuters , the bank is looking for opportunities to stem its revenue decline as overall mortgage lending volume drops, and believes it has worked through enough of its crisis-era mortgage problems, particularly with U.S. home loan agencies, to be comfortable extending credit to some borrowers with higher credit risks.

To read the entire Reuters article, click here.